Bonhams in Scotland are celebrating record sales as investors turn to art and antiques as savings rates continue to stay low. Although the first part of the Scottish sale is due Tuesday 16th August, Bonhams have experienced huge success with auctions already held.
According to Miranda Grant, the managing director of Bonhams Scotland, 2011 has been the best year so far, with sales exceeding budgets. Bonhams Scotland is the only auction house to have a sale which is dedicated to Scottish art and antiques in the United Kingdom. Grant believes that potential investors who are disappointed at the low rates for savings and investments, are becoming increasingly likely to purchase a rare antique which usually holds its value at the very least. Grant said:
“Someone who had £200,000-£500,000 to invest, could invest in something that is going to hold its value, look stunning on their wall and which isn’t going to lose them any money-it’s a win-win situation.”
As sales of Asian art have been high, Bonhams have created a new department which would offer a dedicated specialist service to that area. The Scotland sale has been divided into two separate sales for the first time, as an American private collector of Scottish art is selling a large collection over here. The second sale will be held on 31st August.
As the stock market is unsteady at the moment, a safer investment can be found in one of the many antiques shops around the Lancashire area. A reputable dealer will have a wide range of antiques varying from fine art to Victorian dining chairs .
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